New Product Development consists of bringing a new product or service to market. This process involves idea generation, market research, marketing analysis, product design, and detail engineering and therefore involves coordination between different departments (Marketing, R&D, Engineering, Quality, Production, etc.).

Successful NPD projects rely on:

Clearly defined project definition and stakeholder analysis.
Flexible framework and processes.
Clear roles and responsibilities.
Strong team leadership.
Excellent collaboration and cross-functional teamwork.
Risk/Reward management.